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Gelneren [198K]
2 years ago
12

Depreciation, a type of expense, is included in the ________ category.

Business
1 answer:
qaws [65]2 years ago
6 0

Answer:

General and administrative

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet: it contains financial information about assets, liability, and equity.

2. Cash flow statement: it contains financial information about operating, financial and investing activities.

3. Income statement: it contains financial information about the income and expenses of an organization.

4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.

Depreciation can be defined as a process in which the monetary or financial value with respect to an asset decrease or falls over time as a result of wear and tear.

This ultimately implies that, depreciation is a process which typically involves the general fall in the value of an asset such as currency, plant equipment or machinery etc over a specific period of time.

Basically, depreciation is a type of expense and it is included in the general and administrative (G&A) category of a balance sheet.

A general and administrative (G&A) can be defined as the expenditures that are required for the smooth running or operations of a business, which are not associated with the manufacturing of goods.

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Sylvia's annual salary increases from $102,300 to $109,500. Sylvia decides to increase the number of vacations she takes from th
Vinvika [58]

Answer:

4.20 and normal good

Explanation:

The computation of the income elasticity of demand is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in income ÷ average of quantity income)  

where,  

Change in income would be

= Q2 - Q1

= 109,500 - 102,300

= 7,200

And, average of income would be

= (109,500 + 102,300) ÷ 2

= 105,900

Change in quantity demanded would be

= 4 - 3

= 1

And, average of quantity demanded would be

= ($4 + 3) ÷ 2

= 3.5

So, after solving this, the income elasticity of demand is 4.20

Since the elasticity comes in positive which means the good is a normal goods

7 0
3 years ago
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of u
Allushta [10]

Answer:

The variable costing unit product cost was <u>$69.</u>

Explanation:

Variable Product Costing is a situation whereby only the variable costs of production is taking into account to estimating the cost per unit of a product. This implies that none of the fixed cost will be included in the cost of the product.

Based on the explanation above, the variable costing unit product cost to produce a single product by Kray Inc. can be calculated as follows:

Kray Inc.

Calculation of Variable Costing Unit Product Cost

<u>Particulars                                                          Amount ($)     </u>

Direct materials                                                        40

Direct labor                                                               19

Variable manufacturing overhead                           8

Variable selling and administrative expense     <u>     2      </u>

Variable cost per unit                                          <u>     69     </u>

Therefore, the variable costing unit product cost was <u>$69.</u>

5 0
2 years ago
You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you c
max2010maxim [7]

Answer:

<u>Prize is $22,071.39 worth today</u>

Explanation:

Present value of Annuity = A*[(1-(1+r)^-n)/r]

A - Annuity payment = 500

r - rate per period = 6/12 = .5%

n - no. of periods = 50

Present value of Annuity = 500*[(1-(1.005)^-50)/.005]

= 500*[(1-0.77928606825)/.005]

= 500*44.14278635

= $22,071.39

3 0
2 years ago
Doyle Company issued $226,000 of 10-year, 5 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is
Thepotemich [5.8K]

Answer:

Dr cash                $226,000

Cr Bonds payable                    $226,000

31st December year 1

Dr cash                       $74,000

Cr Lease revenue                     $74,000

Dr interest expense               $11,300

Cr Cash                                                $11,300

31st December year 2

Dr cash                       $74,000

Cr Lease revenue                     $74,000

Dr interest expense               $11,300

Cr Cash                                                $11,300

Explanation:

Upon the receipt of $226,000 from bond issue,cash acount would be debited with $226,000 and bonds payable account would be credited with the same amount.

When land purchased,the land account is debited with $226,000 and cash is credited with $226,000.

The receipt of $74,000 from lease rental means that cash is debited and the lease revenue is credited.

The coupon interest on the bonds=$226,000*5%=$11,300

The coupon interest is debited to interest expense and credited to cash in each of the two years.

find attached t accounts.

Download xlsx
7 0
3 years ago
Profit-maximizing firms enter a competitive market when existing firms in that market have.
alexdok [17]

Answer:Profit-maximizing firms enter a competitive market when, for existing firms in that market, total revenue exceeds fixed costs.

Explanation:

that is what i think sorry if im not right

6 0
1 year ago
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